Topic: Security Should Be Your First Target as a Newbie (Read 666 times)
One of the main requirements for Bitcoin for beginners is to ensure the security of the wallet. No matter how much a beginner invests, if the wallet in which he keeps his invested bitcoins gets hacked, all his investment will be lost. Moreover, while updating the wallet, one must keep track of it and also while withdrawing and depositing, one should always be careful not to withdraw or deposit to the wrong address.
expect that hacking and scamming will never be stopped.
Yea, I don't. There are always newbies to prey for, once one batch has learned their lesson there will be another fresh batch of newbies, it's never ending cycle between hackers and users who get hacked.
However, one thing that can be done is, once one has learned their lesson, they can share their lesson with others, so few may be saved from committing same error.
True, I see plenty questions people asking For investment, but often they have no idea of securing their investment.
We have seen already nothing is truly safe as some fiascos lately, such as ledger — it's questionable after ledger recover. Non-custodial wallets? Atomic wallet got hacked. Exchanges? They get hacked all time.
Asking how to make your investments work and become sustainable in the market will still be useless if you are not responsible enough to secure your investments. That should be your first goal and target more than anything. But since its nature for the people to only get learned after they have committed mistakes and losses, then most probably after that, these investors will only tighten the security of their wallet.We have seen already nothing is truly safe as some fiascos lately, such as ledger — it's questionable after ledger recover. Non-custodial wallets? Atomic wallet got hacked. Exchanges? They get hacked all time.
Hacking becomes more rampant in the market maybe because of these new investors who lack the knowledge to secure their investments. And the more newbies to rush investing without prior knowledge, expect that hacking and scamming will never be stopped.
But it is quite unfortunate because the average beginner does not realize this, except for those who have been managing assets for a long time, the security for their assets in crypto will also be considered, but new investors in the crypto world are rarely aware of their security, on average, after making crypto purchases they store them on exchanges and that is the beginning of their mistakes as beginners.
Because this is also led by the marketing opinion of the exchanges saying that they are running according to regulations and are safe, that is what causes beginners to entrust their assets to be stored on the exchange (first mistake), I have also experienced it, and after the mt.gox collapse that storing assets on the exchange is not safe.
Because this is also led by the marketing opinion of the exchanges saying that they are running according to regulations and are safe, that is what causes beginners to entrust their assets to be stored on the exchange (first mistake), I have also experienced it, and after the mt.gox collapse that storing assets on the exchange is not safe.
The first tip is that your first primary assessment should be to build knowledge on the best security method to use with your wallet.
1: type of wallet to use: make sure you make the best choice when it comes to your choice of wallet to store your Bitcoin.
I suggest using either ColdCard or SeedSigner. Both require some learning but it's worth it to learn how these powerful tools work. 1: type of wallet to use: make sure you make the best choice when it comes to your choice of wallet to store your Bitcoin.
2: level of security of your wallet, what is the level of the wallet security and how well does the wallet allow you to add another level of security of wallet e.g. multig 2fa, etc?
In order to use either ColdCard or SeedSigner, you need a desktop coordinator wallet to build and broadcast (send) transactions. I suggest using Sparrow wallet because it is the most feature-rich wallet I have ever found. There's not much that this wallet cannot do. 3: avoidance of greed tendency e.g never being involved in anything such as investment unless just to buy Bitcoin and hold, because doing so will allow you to always be in control of your wallet,
Absolutely. The best way is simply to buy and hodl. As long as you are using the best tools in the industry, you will be just fine.
One more thing, try to enter your trading or investment account password when you re-enter your account, it's best to do it manually because if someone is having fun they can easily enter it from the stored cache data, especially if the beginner is also tempted by the Airdrop which is often present and published on Telegram channels or other social media and this is in accordance with what you wrote in point three.
Don't forget the Bluewallet wallet is also good. I have tried it myself and there are many superior features there that make it comfortable to use.
Don't forget the Bluewallet wallet is also good. I have tried it myself and there are many superior features there that make it comfortable to use.
Security is the ultimate as a newbie because a lot of us have lost huge amounts of money due to our negligence of the security demand that is needed for our safety in this industry and a lot of time, there have been misconceptions about that fact, so before you buy any asset at all, you must, first of all, know how to protect your assets and increase your security for as much as possible to as to stay on top of the situations at all time. Most of us could have retired by now, if only we never lose the kind of money we have lost before, because of lack of security knowledge and risk assessment skills that could have helped us alot to avoid multiple thefts of our assets.
If neglected, in time, users will realize what steps need to be taken not to get rekt by scammers.
You may be too careless when you are starting, but as you experience losses, you will learn from your own mistakes.
And as much as possible, in every transaction you need to make, you should always check at least twice about the addresses involved,
it may be your savior if you happen to omit even one letter in your coin's/token's address.
Security is the ultimate as a newbie because a lot of us have lost huge amounts of money due to our negligence of the security demand that is needed for our safety in this industry and a lot of time, there have been misconceptions about that fact, so before you buy any asset at all, you must, first of all, know how to protect your assets and increase your security for as much as possible to as to stay on top of the situations at all time. Most of us could have retired by now, if only we never lose the kind of money we have lost before, because of lack of security knowledge and risk assessment skills that could have helped us alot to avoid multiple thefts of our assets.
But when tou concentrate on Bitcoin alone, you minimize your risks and also increase your chances of making a profit out of the market at some point since you will already have your Bitcoin securely stored in your wallet and not any form of investment.
On this one, you can't control what's on the heads of people. We agree that being in bitcoin alone, lessening the risks that we take upon investing on it. But that doesn't mean that if you invest in Bitcoin alone, you're already securely storing in a wallet, the question is what type of wallet?
Usually the new ones are treating exchanges as wallets and that's the mistake they does every time.
Most newbies think that their security on the internet is very trivial, in fact there are quite a lot of newbies who don't have any basic knowledge about the best security when doing activities on the internet.
In terms of Bitcoin, there are many private wallets that can be the safest place to store them, such as Electrum and unstoppable wallets. Apart from choosing a safe wallet, you must also store your private key in a safe place, don't store it carelessly so that the assets you store don't just disappear.
The last thing that is no less important is a lesson about the schemes that fraudsters always use in the crypto world, beginners must also learn that because beginners in crypto are easy targets.
Beginners have always been the worst hit when it comes to this issue of security and what to expert as a standard practice for a newbie to secure himself in industry although tou have mentioned the risk with all the possible scams thatay happen around the internet off course we have experienced alot of them and that experience have build our ability to easily spot them when their are presented to us and how to avoid failing into those online crypto scams.In terms of Bitcoin, there are many private wallets that can be the safest place to store them, such as Electrum and unstoppable wallets. Apart from choosing a safe wallet, you must also store your private key in a safe place, don't store it carelessly so that the assets you store don't just disappear.
The last thing that is no less important is a lesson about the schemes that fraudsters always use in the crypto world, beginners must also learn that because beginners in crypto are easy targets.
But when tou concentrate on Bitcoin alone, you minimize your risks and also increase your chances of making a profit out of the market at some point since you will already have your Bitcoin securely stored in your wallet and not any form of investment.
Yeah its because profit will be one thing came up in their mind. They always get hype by the earnings accumulated by some people but they didn't give the long credits about the hard work those people done and how they make sure that every decision made they are secured then make sure that never step on wrong decision in terms of investing.
If newbies will be just suspicious at their first try and will do a research about everything need to consider before starting their journey for sure we will never or at least see less of them got scam or hack. But I believe since crypto is now becoming popular the awareness regarding scams is also increasing so maybe on upcoming years there are more awareness regarding on risk and scams so hopefully those newbies will take time to participate and take some time to learn from those programs.
Security is its utmost important regardless if you are a newbie or an experienced one in your bitcoin investment. It's useless to attract a lot of profits in your investment when you don't even know how to secure well your coins in your wallet. That is why by creating a hardware wallet wherein you can be free from scammers online is a big factor to obtain security. And by choosing not to disclose or share anything about your wallet most especially your private keys, you are keeping the high security of your own wallet.
This will only be possible if you are educated enough on what type of investment you are entering and how to secure the safety of your own coins in your wallet. Otherwise, a lot of scammers will be eyeing on you if you resort being careless because you are busy planning on how to make your investment more profitable while leaving its high security at stake.
This will only be possible if you are educated enough on what type of investment you are entering and how to secure the safety of your own coins in your wallet. Otherwise, a lot of scammers will be eyeing on you if you resort being careless because you are busy planning on how to make your investment more profitable while leaving its high security at stake.
Most newbies think that their security on the internet is very trivial, in fact there are quite a lot of newbies who don't have any basic knowledge about the best security when doing activities on the internet.
In terms of Bitcoin, there are many private wallets that can be the safest place to store them, such as Electrum and unstoppable wallets. Apart from choosing a safe wallet, you must also store your private key in a safe place, don't store it carelessly so that the assets you store don't just disappear.
The last thing that is no less important is a lesson about the schemes that fraudsters always use in the crypto world, beginners must also learn that because beginners in crypto are easy targets.
Beginners have always been the worst hit when it comes to this issue of security and what to expert as a standard practice for a newbie to secure himself in industry although tou have mentioned the risk with all the possible scams thatay happen around the internet off course we have experienced alot of them and that experience have build our ability to easily spot them when their are presented to us and how to avoid failing into those online crypto scams.In terms of Bitcoin, there are many private wallets that can be the safest place to store them, such as Electrum and unstoppable wallets. Apart from choosing a safe wallet, you must also store your private key in a safe place, don't store it carelessly so that the assets you store don't just disappear.
The last thing that is no less important is a lesson about the schemes that fraudsters always use in the crypto world, beginners must also learn that because beginners in crypto are easy targets.
But when tou concentrate on Bitcoin alone, you minimize your risks and also increase your chances of making a profit out of the market at some point since you will already have your Bitcoin securely stored in your wallet and not any form of investment.
Be it a newbie or whoever, security measures are very important for everyone especially if it is Bitcoin investing. I am going to tell you how I managed my security. My bitcoin or crypto wallet is secure and I use a complex password that no one else can easily guess. I confirmed the two phasers as I understood the private key of my wallet. Also, my wallet is properly encrypted so that no one can access the transaction information. Although I take good care of the security of my wallet, still if there is a problem, my wallet is active from deposit, I can recover my transactions etc. Also, I keep my wallet storage management portal enabled, so that if there are any issues, I can resolve them. I think everyone should implement deep security measures to keep their bitcoins safe.
It should be for everyone because scammers will find a way to scam people and you'll be surprised of the scammers new innovations just to scam people. Well, for newbies first target should be knowledge or information because if a newbie doesn't have knowledge then how will s/he keep the assets safe and how to keep the seed phrase safe. Having knowledge on what to do and things that a newbie shouldn't do. Anyway, it's not just newbies that should prioritize knowledge first and then security but also other forum members or people that isn't newbie.
True, I see plenty questions people asking For investment, but often they have no idea of securing their investment.
We have seen already nothing is truly safe as some fiascos lately, such as ledger — it's questionable after ledger recover. Non-custodial wallets? Atomic wallet got hacked. Exchanges? They get hacked all time.
We have seen already nothing is truly safe as some fiascos lately, such as ledger — it's questionable after ledger recover. Non-custodial wallets? Atomic wallet got hacked. Exchanges? They get hacked all time.
People tends to invest first then after that is learning how to secure their investment which I think is very risky. I agree with @OP that before releasing any finances, we must know about our investment and the security revolves around it. We should learn the basic fundamental of the investment, and how to secure that investment before getting into the investment venture itself. This should be the process so that hackers, scammers and fraudster have little time frame to caught of off-guard or chance of stealing our investments.
In anything concerning cryptocurrency the primary thing we should do is to make sure that we have secured our bitcoin wallet, because sometimes what causes losing of bitcoin in the wallet is base on lack of security, some people save their seed phrase or security passwords online especially through the email and that's while some of them misplaced their coins in the aspects of saving the security keys in their mail and whenever the mail is been hacked and they will accessibility to penetrate to your wallet.
True, I see plenty questions people asking For investment, but often they have no idea of securing their investment.
Exactly, security of investment is even more important than investment in itself because what the need of having an investment if you can securely protect it from thefts, alot of newbies have failed to this and have lost almost 100% of the investment at some point, so knowledge is very important and building a good security awareness and enlightenment is keybto securing your future investment. Quote
We have seen already nothing is truly safe as some fiascos lately, such as ledger — it's questionable after ledger recover. Non-custodial wallets? Atomic wallet got hacked. Exchanges? They get hacked all time.
Bad situation really, no where is really safe right now, but we can because of rhe so.many hacks and other security attack to neglect the place of building that knowledge at some point and if that ve the case, it still bring us back to what I already said earlier concerning, holding while you learn because by so doing m, you are saving and at the same time you will be learning, so that In the end you haa ve double advantage and an increased security architecture to support your knowledge bank. 
True, I see plenty questions people asking For investment, but often they have no idea of securing their investment.
I'm of guilty in that part because before I just being dependent on the built-in defender of my windows and after an incident of hacking that's time i made an investment in security which is having an anti-virus or Windows defender like ESET in my devices to prevent this expensive mistake happens again. Im a user of a Trezor wallet to make my wallet more secure but even its secure still my device I'm using is vulnerable with thsis possible attacks. I recommend investing in security first and next is the asset.
Newbies must search, read and learn first.
They must do those steps before doing anything like posting, trading, investing, using an account, wallet to store their bitcoin. Hopefully if they search, read, and learn as their first steps, they will find my topic.
Good topics on security and privacy that is renamed to Security and Privacy Encylopedia today.
I can miss some threads but they can find missing threads in Beginners & Help Encyclopedia.
They must do those steps before doing anything like posting, trading, investing, using an account, wallet to store their bitcoin. Hopefully if they search, read, and learn as their first steps, they will find my topic.
Good topics on security and privacy that is renamed to Security and Privacy Encylopedia today.
I can miss some threads but they can find missing threads in Beginners & Help Encyclopedia.
Learning is the first stage for any development. This is why schools are created to teach basic things which you can also impart on other after skulling. Most newbies fail to learn because they came to the forum to make money rather than to learn. But they have forgotten you can give what you don't have.
The suggestions given by you are very important but not only these suggestions are for new investors but also the old ones should pay attention to these things because at any time anyone can face this hacking so those who are involved in crypto are always different phishing. Stay away from the site and use the most secure wallets.
Old investors have been around for enough time to know the basic things about hacks and scams and how they can be secure from these things, whereas new investors tend to have no knowledge or experience regarding these things and that is the reason why they mostly become victims of scams and hacks because they don't know the correct ways of keeping their assets or using the correct security measures to stay safe from hacks and exploits of wallets.
Newbies or new investors are also often targeted by scammers through phishing links or different approaches that they use to make them believe that they can earn a lot of money and newbies get trapped since most newbies think it's easy to earn a lot of money in this industry which is actually not true.
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